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What is the extent of influence of the shared environment and genetics on IQ score in children living in affluent and impoverished families?
Marginal Revenue
The additional income earned by selling one more unit of a product or service, reflecting the incremental increase in total revenue.
Nondiscriminating Profit-maximizing Monopolist
A monopolist who charges a uniform price for all units of output sold to all customers, maximizing profit without price discrimination.
Inelastic
A characteristic of goods whose demand or supply is not significantly affected by changes in price.
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